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SOUTHERN NATIONAL ANNOUNCES $50 MILLION PREFERRED STOCK PUBLIC OFFERING

SOUTHERN NATIONAL ANNOUNCES $50 MILLION PREFERRED STOCK PUBLIC OFFERING
 LUMBERTON, N.C., Dec. 16 /PRNewswire/ -- Southern National Corporation (NYSE: SNB) today announced that it has filed with the Securities and Exchange Commission for an offering of 2 million Depositary Shares, each representing a one-quarter interest in a share of the Company's Series A Cumulative Convertible Preferred Stock for an aggregate offering of $50 million in new financing. This proposed offering is expected in the first quarter of 1992 and will be managed by Bear, Stearns & Co. Inc.
 Prospectuses are expected to be available in January from Bear, Stearns & Co. Inc., 2 Broadway, New York, New York 10004, attention Mr. Darren Monsanto.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.
 Southern National is a multi-bank holding company with 150 offices in 80 cities and towns in North and South Carolina.
 -0- 12/16/91
 /CONTACT: Bob Denham, Public Relations, 919-671-2427, or Morris D. Marley, Chief Investment Officer and Treasurer, 919-671-2272, both of Southern National Corporation/
 (SNB) CO: Southern National Corporation ST: North Carolina IN: FIN SU:


CM -- CH002 -- 2389 12/16/91 09:26 EST
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Publication:PR Newswire
Date:Dec 16, 1991
Words:272
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